Homeowners who have qualified for a state-run Hurricane Sandy grant program may now be eligible for up to $30,000 in additional funding to help rebuild their homes through a new initiative announced today.

The American Red Cross and Hurricane Sandy New Jersey Relief Fund have together set aside $15.2 million for homeowners who have already qualified for a grant through the Rehabilitation, Reconstruction, Elevation and Mitigation, or RREM, program. The New Jersey Department of Community Affairs administers the RREM program, which offers eligible homeowners up to $150,000.

However, that funding may still not be enough to cover the total cost of rebuilding.

The $15.2 million program — called the RREM Gap Funding Initiative — aims to provide homeowners with the additional money they'll need to complete reconstruction.

In order to qualify for a grant of up to $30,000, homeowners must have been awarded a RREM grant and earn a gross household income of less than $100,000. Homeowners must also show a financial need greater than the maximum award of $150,000 available through the state-run grant program.

Homeowners who qualify for a RREM grant must show they have the funds the cover the gap between the total cost of rebuilding and the award amount.

First Lady Mary Pat Christie, who chairs the Hurricane Sandy New Jersey Relief Fund, said in a statement that the RREM Gap Funding Initiative will help bring homeowners "up to $30,000 closer to closing that gap, accessing RREM funds, and returning home."

New Jersey Community Capital will administer the grant program, which received $10 million from the Red Cross and a $5.2 million the Hurricane Sandy New Jersey Relief Fund.